How to Declare Cryptocurrencies on Your Spanish Tax Return: 2026 Guide
Cryptocurrencies have evolved from a niche for tech investors to an increasingly common asset in the portfolios of freelancers and SMEs. However, their tax treatment still raises many questions. With the Spanish Tax Agency (AEAT) stepping up its oversight, it's crucial to know how to correctly declare these operations on your Income Tax Return (Renta).
In this article, we clearly and practically explain everything you need to know for the 2025 tax campaign (filed in 2026) and beyond.
The Key: Capital Gains or Losses
The general rule is that you must pay tax on the capital gains or losses generated by your crypto assets. This doesn't happen just by holding them (hodling), but when a change in your net worth occurs.
A change in net worth happens when you:
- Sell cryptocurrencies for euros or another fiat currency.
- Exchange one cryptocurrency for another (e.g., swapping Bitcoin for Ethereum).
- Use cryptocurrencies to buy goods or services.
The gain or loss is calculated with a simple formula:
Gain/Loss = Transfer Value - Acquisition Value
* Acquisition Value: The price you paid for the cryptocurrencies, including any transaction fees.
* Transfer Value: The value in euros of the cryptocurrencies at the time of the sale, exchange, or purchase.
To determine which coins you are selling, the AEAT mandates the use of the FIFO (First-In, First-Out) method: the first ones you bought are considered the first ones sold.
Where to Declare Them in the IRPF
These capital gains and losses are included in the savings tax base of your Income Tax Return. You must report them in the boxes corresponding to "Capital gains and losses derived from the transfer of other assets" (currently starting from box 1800).
The savings tax brackets for 2026 are:
- Up to €6,000: 19%
- From €6,001 to €50,000: 21%
- From €50,001 to €200,000: 23%
- From €200,001 to €300,000: 26%
- Over €300,000: 28%
Special Cases: Mining, Staking, and Airdrops
Not all cryptocurrency operations are taxed the same way:
* Mining: This is considered an economic activity. It means you must register as a freelancer (autónomo) and pay tax on the income as income from economic activities in the general IRPF tax base, not the savings base. If you're thinking of starting this activity, we recommend our guide on how to register as a freelancer step by step.
* Staking and Lending: The rewards obtained are considered returns on movable capital, similar to interest from a bank deposit. They are taxed within the savings tax base.
* Airdrops: These are considered a capital gain not derived from a transfer. Their value is included in the general tax base at the time they are received.
New Reporting Obligations and the Digital Future
The AEAT has strengthened its control with new obligations:
- Form 721: An informational declaration for virtual currencies held abroad, mandatory if their value exceeds €50,000.
- Forms 172 and 173: Declarations that exchanges operating in Spain submit to the Tax Agency with their users' balances and transactions.
This digital crackdown will be completed with the arrival of electronic invoicing systems. While it doesn't directly affect holding crypto assets as an individual, it is a fundamental change for freelancers and SMEs in their daily activities. Remember that the deadlines are approaching, as we detail in our guide on VeriFactu 2027: Deadlines for Freelancers in Spain.
Keeping a detailed record of every transaction is essential to comply with the Tax Agency and avoid future penalties.